Mortgage Information http://www.mortgagelendersusa.net Your Questions, Our Answers Wed, 16 May 2012 07:38:22 +0000 http://wordpress.org/?v=2.2.1 en How does a reverse mortgage affect medicaid qualification? http://www.mortgagelendersusa.net/how-does-a-reverse-mortgage-affect-medicaid-qualification/1397/ http://www.mortgagelendersusa.net/how-does-a-reverse-mortgage-affect-medicaid-qualification/1397/#comments Wed, 16 May 2012 07:35:31 +0000 admin http://www.mortgagelendersusa.net/how-does-a-reverse-mortgage-affect-medicaid-qualification/1397/
Jenny B asked:


My 66 year old mother is considering a reverse mortgage, but even with that supplemental income potential, she will still need to apply for Medicaid to cover prescription expenses. Will a reverse mortgage affect her qualification for Medicaid?

]]> http://www.mortgagelendersusa.net/how-does-a-reverse-mortgage-affect-medicaid-qualification/1397/feed/ How do you get your mortgage company to negotiate? http://www.mortgagelendersusa.net/how-do-you-get-your-mortgage-company-to-negotiate/1352/ http://www.mortgagelendersusa.net/how-do-you-get-your-mortgage-company-to-negotiate/1352/#comments Mon, 14 May 2012 16:51:10 +0000 admin http://www.mortgagelendersusa.net/how-do-you-get-your-mortgage-company-to-negotiate/1352/ frjk asked:

We are in Chapter 11 Bankruptcy and do pay that every month, but am 4 months behind on mortage. I just want a reduced payment, maybe over 40 years, not 30 and at a lower rate, but my mortgage company (Countrywide) will nottalk to us. Please help!

]]> http://www.mortgagelendersusa.net/how-do-you-get-your-mortgage-company-to-negotiate/1352/feed/ How to short sale with child on title deed but not mortgage ? http://www.mortgagelendersusa.net/how-to-short-sale-with-child-on-title-deed-but-not-mortgage/1327/ http://www.mortgagelendersusa.net/how-to-short-sale-with-child-on-title-deed-but-not-mortgage/1327/#comments Thu, 10 May 2012 10:03:39 +0000 admin http://www.mortgagelendersusa.net/how-to-short-sale-with-child-on-title-deed-but-not-mortgage/1327/ lvchic_702 asked:

My mom passed away and we are trying to short sale her home. My brother is on the title deed and second mortgage but not the first mortgage. Under the deed it says joint tenancy. We already have a realtor dealing with them but she doesn’t understand why first mortgage won’t cooperate so we will be seeking a lawyer for help. Doesn’t the deed give my brother automatic ownership since my mom passed on ? I live in Las Vegas, NV. Thanks.

]]> http://www.mortgagelendersusa.net/how-to-short-sale-with-child-on-title-deed-but-not-mortgage/1327/feed/ How does falling behind one mortgage payment affect a credit score? http://www.mortgagelendersusa.net/how-does-falling-behind-one-mortgage-payment-affect-a-credit-score/1348/ http://www.mortgagelendersusa.net/how-does-falling-behind-one-mortgage-payment-affect-a-credit-score/1348/#comments Tue, 08 May 2012 18:44:58 +0000 admin http://www.mortgagelendersusa.net/how-does-falling-behind-one-mortgage-payment-affect-a-credit-score/1348/ scipiovshannibal asked:

I’d like to know what the initial drop is in a credit score when a person falls behind on mortgage payments by one month. After the initial drop, does your score continue to drop each month you are not current or is it a one time drop? If it drops more each month you are behind, by how much?

]]> http://www.mortgagelendersusa.net/how-does-falling-behind-one-mortgage-payment-affect-a-credit-score/1348/feed/ How much will mortgage and house bills like water be? http://www.mortgagelendersusa.net/how-much-will-mortgage-and-house-bills-like-water-be/1375/ http://www.mortgagelendersusa.net/how-much-will-mortgage-and-house-bills-like-water-be/1375/#comments Tue, 08 May 2012 15:17:29 +0000 admin http://www.mortgagelendersusa.net/how-much-will-mortgage-and-house-bills-like-water-be/1375/
berdjmk asked:


Hey all i live in Los Angeles and im planning to buy a house soon, and wanted some insight from different sources. Im buying a 325,000 house with a pool, and i want to put 10% down. Ive been told that i have to pay a mortgage insurance, which will run somewhere around 400. I want to know how much some things like water electric and gas would cost me.

Can someone tally up a total with mortgage, insurance, and utility’s ect…

]]> http://www.mortgagelendersusa.net/how-much-will-mortgage-and-house-bills-like-water-be/1375/feed/ Can someone get a reverse mortgage if they already have a mortgage on their house? http://www.mortgagelendersusa.net/can-someone-get-a-reverse-mortgage-if-they-already-have-a-mortgage-on-their-house/1373/ http://www.mortgagelendersusa.net/can-someone-get-a-reverse-mortgage-if-they-already-have-a-mortgage-on-their-house/1373/#comments Wed, 02 May 2012 08:12:21 +0000 admin http://www.mortgagelendersusa.net/can-someone-get-a-reverse-mortgage-if-they-already-have-a-mortgage-on-their-house/1373/
Think about it asked:


If my house is worth $250,000 and I have a first and second mortgage that adds up to about $135,000 can I still qualify for a reverse mortgage? Does it depend on how much equity I have in the house or liens on the property?

]]> http://www.mortgagelendersusa.net/can-someone-get-a-reverse-mortgage-if-they-already-have-a-mortgage-on-their-house/1373/feed/ How much interest rate would I get on my mortgage loan and how much would I pay monthly given my situation? http://www.mortgagelendersusa.net/how-much-interest-rate-would-i-get-on-my-mortgage-loan-and-how-much-would-i-pay-monthly-given-my-situation/1356/ http://www.mortgagelendersusa.net/how-much-interest-rate-would-i-get-on-my-mortgage-loan-and-how-much-would-i-pay-monthly-given-my-situation/1356/#comments Tue, 01 May 2012 20:49:53 +0000 admin http://www.mortgagelendersusa.net/how-much-interest-rate-would-i-get-on-my-mortgage-loan-and-how-much-would-i-pay-monthly-given-my-situation/1356/
doesnotexist1 asked:


I am a 24yo med student in Chicago looking to buy a condominium. As a student, I have no steady income but do have around $30,000 available for a 10% downpayment. My credit score is 760. Can I get a mortgage with a reasonable interest rate given my credit score and lack of steady income and what would that rate be? I plan on purchasing a condo and renting it out for 2-3 years and using the rent to supplement monthly mortgage until I have a consistent income high enough for me to move-in myself. What steps must I take to fulfill my plan of first time home ownership?

]]> http://www.mortgagelendersusa.net/how-much-interest-rate-would-i-get-on-my-mortgage-loan-and-how-much-would-i-pay-monthly-given-my-situation/1356/feed/ How do you reduce my mortgage payments, or stop them all together? http://www.mortgagelendersusa.net/how-do-you-reduce-my-mortgage-payments-or-stop-them-all-together/1335/ http://www.mortgagelendersusa.net/how-do-you-reduce-my-mortgage-payments-or-stop-them-all-together/1335/#comments Tue, 01 May 2012 19:04:29 +0000 admin http://www.mortgagelendersusa.net/how-do-you-reduce-my-mortgage-payments-or-stop-them-all-together/1335/ Frank C asked:

A family friend has bought his house for around 130,000 around 10 years ago. The current home value is 44,000 and he has to pay around $900 in mortgage payments. Is there any way to lower, or even stop, the payments altogether? What is the best solution for this dilemma?

]]> http://www.mortgagelendersusa.net/how-do-you-reduce-my-mortgage-payments-or-stop-them-all-together/1335/feed/ How do I know when its time to refinance my mortgage? http://www.mortgagelendersusa.net/how-do-i-know-when-its-time-to-refinance-my-mortgage/1393/ http://www.mortgagelendersusa.net/how-do-i-know-when-its-time-to-refinance-my-mortgage/1393/#comments Mon, 30 Apr 2012 21:17:11 +0000 admin http://www.mortgagelendersusa.net/how-do-i-know-when-its-time-to-refinance-my-mortgage/1393/
Sean T asked:


I just bought a home last October. I signed a single 30 year mortgage for 280,000. My interest rate is 6.75%. I have only made 3 payments on this mortgage. With interest rates dropping when is a good time to refinance?

]]> http://www.mortgagelendersusa.net/how-do-i-know-when-its-time-to-refinance-my-mortgage/1393/feed/ How does refinancing a mortgage work? http://www.mortgagelendersusa.net/how-does-refinancing-a-mortgage-work/1307/ http://www.mortgagelendersusa.net/how-does-refinancing-a-mortgage-work/1307/#comments Mon, 30 Apr 2012 16:21:01 +0000 admin http://www.mortgagelendersusa.net/how-does-refinancing-a-mortgage-work/1307/ asked:

I’ve seen that you can put down as low as 3% for a down payment on a home but I know it’ll cost more for monthly mortgage payments this way. How does refinancing a mortgage work? Would someone be able to put down 3% and then later on refinance to a better interest rate?Thanks!

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